Despite strong earnings this is only delaying the inevitable of the bear market. This is the 3rd round of sell offs. The sell offs from GOOGL and AMZN after earnings report is only a small preview of what is left to come. The sell off that came during after hours showed all the "smart money" taking the money and running away with it before the market gets worse. Again tomorrow looks like a bounce back but beware this is a obvious bull trap. You have key 2 factors in the 2 months coming up the final talks between China and Trump and then Jerome Powell screwing us over with back 2 back interest rates. We are not out the woods by a long shot. Oh and the Head shoulders for GOOGL looks pretty much completed just need to see GOOGL hit 1k flat now.
Comment:
I hate to say it but I told ya so. The sell off today just keeps getting worse and worse. Tuesday should still be a continuation of more sell offs and lets pray that Wednesday doesn't turn into the same Wednesday we had 2 weeks ago. Newer lows than the ones we had on February are almost a sure thing at this rate.
Comment:
Oct 29,2018; Head and shoulders completed for GOOGL. $1,004 was the bottom and my actual price target was $1,000 but this is close enough and will do. $1300 by the end of year or January 2019 is my prediction for GOOGL now. Despite GOOGL missing revenue expectations they still smashed earnings and beat estimate earnings by 25%!! You ignore this and I won't feel bad for you if you miss out on the GOOGL gain train.